Hong Kong Stocks Slip as Investors Await Trump-Xi Trade Talks; InnoCare Pharma Falls

MT Newswires Live

6 hours ago

Hong Kong stocks edged lower Thursday as investors focused on the Trump-Xi summit and an agreement to extend the U.S.-China trade truce.

The Hang Seng Index fell 72.99 points, or 0.3%, to close at 24,761.13, while the Hang Seng China Enterprises Index lost 7.80 points to finish at 8,266.01.

U.S. Treasury Secretary Scott Bessent said Washington and Beijing had reached a deal to extend their 11-month trade truce.

Investors are watching the summit for progress on trade relations.

Oil prices eased as traders reassessed supply risks linked to the Iran conflict. Brent crude fell 0.8% to $102.27 per barrel, while West Texas Intermediate crude also fell 0.8% to $91.43 per barrel.

Tensions remained elevated after Iran's president vowed not to surrender following Trump's warning of further escalation.

In corporate news, InnoCare Pharma (HKG:9969, SHA:688428) closed nearly 8% lower after signing a $3.3 billion drug discovery deal with Eli Lilly.

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